Pincus Capital Management LP Takes Position in Norfolk Southern Corporation $NSC

Pincus Capital Management LP acquired a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,500 shares of the railroad operator’s stock, valued at approximately $1,011,000. Norfolk Southern comprises about 0.7% of Pincus Capital Management LP’s investment portfolio, making the stock its 27th biggest holding.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $1,084,701,000. Pentwater Capital Management LP bought a new stake in shares of Norfolk Southern in the third quarter valued at approximately $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Norfolk Southern by 545.2% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock valued at $392,396,000 after purchasing an additional 1,103,748 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Norfolk Southern in the third quarter valued at approximately $329,629,000. Finally, TOMS Capital Investment Management LP bought a new stake in shares of Norfolk Southern in the second quarter valued at approximately $181,995,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $304.86 on Tuesday. The company has a 50 day moving average of $303.67 and a 200 day moving average of $298.50. The stock has a market cap of $68.47 billion, a P/E ratio of 25.68, a P/E/G ratio of 5.63 and a beta of 1.27. Norfolk Southern Corporation has a 12 month low of $241.82 and a 12 month high of $326.00. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, beating the consensus estimate of $2.49 by $0.16. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. Norfolk Southern’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.69 earnings per share. As a group, sell-side analysts forecast that Norfolk Southern Corporation will post 12.11 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s payout ratio is currently 45.49%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on NSC shares. BMO Capital Markets boosted their price target on shares of Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a research report on Monday, April 27th. Jefferies Financial Group lowered their price target on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Susquehanna boosted their price target on shares of Norfolk Southern from $305.00 to $330.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Rothschild & Co Redburn boosted their price target on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen raised shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Six equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $322.29.

Norfolk Southern Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.